Comments on: Received Student Loan Check Today, What Should We Do With It?

By: Saving Money On My Wife’s College Textbooks | My Two Dollars

Saving Money On My Wife’s College Textbooks | My Two Dollars — Fri, 21 Sep 2007 22:14:11 +0000

[...] I mentioned in a post yesterday, this semester marks my wife’s last semester in college. She has been going part time for [...]

By: Stingy Student

Stingy Student — Wed, 31 Jan 2007 01:08:28 +0000

I wrote a post a couple of weeks ago on where to put your money: http://stingystudents.blogspot.com/2007/01/get-your-gs-together-g-2-high-yield.html

Also, HSBC is offering 6% on new balances! I wish I had waited a couple of weeks before depositing my loan check

By: » Carnival of Personal Finance #85 @ fivecentnickel.com

» Carnival of Personal Finance #85 @ fivecentnickel.com — Mon, 29 Jan 2007 12:18:50 +0000

[...] David presents Received Student Loan Check Today, What Should We Do With It? posted at My Two Dollars. [...]

By: David

David — Sun, 28 Jan 2007 01:13:00 +0000

Well we have decided what to do with the money. We are going to pay off my wife’s $500 dentist bill, the balance of the credit card, and put the rest in our ING account. Feels good to have that stuff paid off, even if the amount is added to the student loan balance. Once that starts coming due, its time to start shoveling money at it!

Thanks for the advice everyone!

By: Ellen

Ellen — Fri, 26 Jan 2007 00:51:15 +0000

Instead of using it to pay off 0% interest loans, I’d throw it into HSBC and get 5.05% on it until June when you have to start paying. Of course, if you’d be more emotionally comfortable with a lower amount of debt, rather than earning a few bucks of interest, you should definitely pay off one or another of the debts.

By: Dave

Dave — Thu, 25 Jan 2007 23:16:56 +0000

Hard to say without knowing more, but I might consider depositing it into a high-interest savings account (ie emmigrant direct) to pick up a few extra bucks before paying it back.